Enerflex (NYSE:EFXT) Reaches New 12-Month High – Should You Buy?

Enerflex Ltd. (NYSE:EFXT)’s share price reached a new 52-week high on Thursday . The company traded as high as $9.88 and last traded at $9.82, with a volume of 57337 shares changing hands. The stock had previously closed at $9.83.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada boosted their target price on shares of Enerflex from $9.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th.

Enerflex Stock Up 0.4 %

The stock has a 50 day moving average of $8.23 and a 200-day moving average of $6.54. The firm has a market capitalization of $1.22 billion, a P/E ratio of -15.67 and a beta of 2.21. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.88 and a current ratio of 1.19.

Enerflex Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Tuesday, November 26th will be issued a dividend of $0.0268 per share. This is a boost from Enerflex’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $0.11 dividend on an annualized basis and a yield of 1.09%. Enerflex’s dividend payout ratio is -17.46%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in EFXT. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Enerflex by 24.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,303 shares of the company’s stock worth $174,000 after buying an additional 6,325 shares during the last quarter. Fiera Capital Corp boosted its position in Enerflex by 117.0% during the 2nd quarter. Fiera Capital Corp now owns 24,830 shares of the company’s stock valued at $134,000 after buying an additional 13,390 shares during the period. TD Asset Management Inc grew its holdings in Enerflex by 1.9% in the 2nd quarter. TD Asset Management Inc now owns 152,701 shares of the company’s stock worth $824,000 after acquiring an additional 2,789 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Enerflex by 17,674.4% in the second quarter. Acadian Asset Management LLC now owns 15,286 shares of the company’s stock valued at $81,000 after acquiring an additional 15,200 shares during the period. Finally, Dimensional Fund Advisors LP bought a new position in shares of Enerflex during the second quarter valued at about $609,000. Institutional investors own 46.47% of the company’s stock.

Enerflex Company Profile

Enerflex Ltd. offers energy infrastructure and energy transition solutions to natural gas markets in North America, Latin America, and the Eastern Hemisphere. The company provides natural gas compression infrastructure, processing, and treated water infrastructure under contract to oil and natural gas customers; power generation rental solutions; custom and standard compression packages for reciprocating and screw compressor applications; re-engineering, re-configuration, and re-packaging of compressors for various field applications; integrated turnkey power generation, gas compression, processing facilities, natural gas compression, processing, and electric power solutions; after-market mechanical services and parts distribution, as well as maintenance solutions to the oil and natural gas industry, operations, and overhaul services; and equipment supply, parts supply, and general asset management.